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Steel Import Permit Applications Virtually Unchanged in October
11/06/2008 - Steel import applications totaled 2,908,000 net tons for the month of October, was a 1% increase from the 2,867,000 permit tons recorded in September 2008, and a 0.5% decrease from the September preliminary imports total of 2,921,000 net tons, according to the latest report from AISI.
Steel import applications totaled 2,908,000 net tons for the month of October according to the latest report from the American, Iron and Steel Institute (AISI).
The AISI report, which is based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, showed that the October total was a 1% increase from the 2,867,000 permit tons recorded in September 2008, and a 0.5% decrease from the September preliminary imports total of 2,921,000 NT.
The report also shows that the October total included 2,340,000 net tons of finished steel, a 4% decrease from the preliminary imports total of 2,428,000 net tons in September.
Total year-to-date steel imports for the first 10 months of 2008 (including October SIMA and September preliminary) were 27,215,000 net tons, down 6% from the 28,918,000 net tons imported in the first 10 months of last year. Total steel imports for 2008 would annualize at 32.7 million net tons, or 2% below the 12-month total for 2007.
For October 2008, the largest finished steel import permit applications for offshore countries were for China (658,000 NT), South Korea (171,000 net tons), Japan, (170,000 net tons) and The Netherlands (91,000 net tons). Mainly because of highest 2008 monthly amounts of import permits for Hot Rolled Bars, Line Pipe and Wire Rod from China, Chinese permit tons rose significantly for the third consecutive month and set a new monthly high for 2008. Permit tonnage for Chinese steel increased 16% in October vs. September preliminary imports, and represented 28% of total finished SIMA permit tons. If preliminary imports from China in October were to stay at this amount, it would set an all-time monthly high for Chinese imports.
Major import products that registered large increases in October vs. the September preliminary include Hot Rolled Bars (+ 73%) and Wire Rod (+ 54%). Import product categories with significant increases year-to-date vs. 2007 include Oil Country Goods (+ 73%), Hot Rolled Bars (+ 15%) and Hot Rolled Sheets (+ 11%).
“Once again, the data point that sticks out above all others is the enormous tonnage from China,” said AISI President and CEO Thomas J. Gibson, commenting on the steel import situation in October. “This is occurring at a time of significant market weakening in the U.S., China and other major economies.
“Given these conditions both in the United States and worldwide, it is now more important than ever that U.S. laws against dumped and subsidized imports be strictly enforced,” added Gibson.
AISI serves as the voice of the North American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI also plays a lead role in the development and application of new steels and steelmaking technology. AISI comprises 27 member companies, including integrated and electric furnace steelmakers, and 138 associate and affiliate members who are suppliers to or customers of the steel industry.
